Germany to grant money for Bangladesh
DHAKA (Reuters) - Germany will give a 52 million euro ($82.54 million) grant to Bangladesh in the 2008-09 (July-June) financial year to help develop infrastructure and alleviate poverty in the south Asian country.
"This is the most important result of negotiations on development cooperation between the two governments that concluded in Dhaka," a statement of the German embassy said on Tuesday.
The projects includes protection of river banks, preservation of biodiversity, poverty reduction and urban life development.
Bangladesh needs $4 billion to build embankments along rivers, cyclone shelters, roads and other infrastructure in the next 15 years to mitigate the threats of climate change, a senior official in the government's Economic Relations Division said.
($1 = 0.63 euro)